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Dec 27, 2012
12/12
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gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right now the mortgage interest deduction cost the government roughly $100 billion per year in revenue and getting rid of that would likely increase home values particularly in more expensive areas. gerri: rehear it would put the brakes on selling and home buying in those areas. what are the issues for you? you know all the issues and housing, what are you looking for next year? >> three things have been really important, the first is the inventories of homes for sale are down sharply. that is great news for home sellers because there is less competition. bad news for buyers. demand is also up, rising rent,
gerri: i want to talk about another issue with you that is a fiscal cliff going over the fiscal cliff, what will that do to housing? >> the worst case scenario in the fiscal cliff if the tax increases and spending cuts come into effect would be bad for the economy and would really hurt housing demand. even if the fiscal cliff is solved, less damaging ways to resolve the fiscal cliff, the housing market still might be affected if the mortgage interest deduction is cut back severely. right...
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Dec 27, 2012
12/12
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the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very simply, sir, we appreciate you being here but is harry reid right? are we going off the cliff? >> well, adam i hope he is not right. at this point president obama indicated he is going to call and talk to our leader, mitch mcconnell, senator mcconnell and make a proposal. we're very interested to see what that proposal is. we put revenues on the table. there needs to be some savings. and i believe we can get a deal so let's go. adam: what will the do look like? the president at one point actually upped what he was willing to tax. he wants taxes. originally saying on incomes of 2
the senate convened today for emergency session to deal with the fiscal cliff. the house has announced plans to reconvene on sunday. both senate majority leader harry reid and senate minority leader mitch mcconnell spoke a short time ago and neither sounds hopeful of fiscal cliff deal will be made before the deadline. so at this point is there any chance the united states can avoid taking a fiscal cliff dive? joining me for more is republican senator john hoeven of north dakota. and very...
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Nov 11, 2012
11/12
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forget about the fiscal cliff, s this a sign of whas to come even without a deal. here are the bulls and bears this week, gary b smith, tobin smith. and stephan fitch. welcome, everybody. todd, four more years of big government means four more years of job losses? >> absolutely, i tell you why. big government is not the answer, we've went through this for the past four years and seen government expand over and over again and now the same composition in the congress as well as the white house, what are we looking at. obamacare, dodd frank and heavy costs, companies will not hire. >> okay, stephan, do you agree? >> i agree partiay. we should be concerned about government growing out of control. first of all, government through quite a lot during the bush years and we had pretty robust private employment expansion and the government has some down significantly, the tax policy center took a look at this. pops up to 30%, i acknowledge that at the beginning of the obama term and come down since. i think we are going to see that drop in the next three, four years, i don't
forget about the fiscal cliff, s this a sign of whas to come even without a deal. here are the bulls and bears this week, gary b smith, tobin smith. and stephan fitch. welcome, everybody. todd, four more years of big government means four more years of job losses? >> absolutely, i tell you why. big government is not the answer, we've went through this for the past four years and seen government expand over and over again and now the same composition in the congress as well as the white...
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Oct 23, 2012
10/12
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and fiscal cliff in front of it seems that our economy is already on a precipice. it will get worse? >> well you know president signed sequestration bill, so i thought that meant he was in favor of sequestration happening, when he said it is not going to happen, some pundits in washington may agree with him, but no one has come up with allege latest fix -- legislatist fix how we cut the money for spending we have to look at military spending and domestic welfare spending, they both have to be looked at if we're ever going to balance the budget. gerri: senator paul, always a pleasure, be interesting to see if you get much reaction to the ads. >> thank you. >> well, candidates dashing to finish line, president obama ii worried he is not making his bottom line for a second term clear. so, he is releasing a 20 page book met on his plan. -- booklet on his plan. >> my plan will move america forward. and by the way, the mask in my plan, adds up, folks were not convince they'd can look here and find out what it and i intend to do in the second term. gerri: so, 14 days unti
and fiscal cliff in front of it seems that our economy is already on a precipice. it will get worse? >> well you know president signed sequestration bill, so i thought that meant he was in favor of sequestration happening, when he said it is not going to happen, some pundits in washington may agree with him, but no one has come up with allege latest fix -- legislatist fix how we cut the money for spending we have to look at military spending and domestic welfare spending, they both have...
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stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the tax rate issue. the president insists more revenue comes from higher rates, not deduction limits. -pit's a standoff and it contins less than four weeks to go until the deadline. be careful what you say in a local police want a law, new law requiring that text messages be saved for two years. how do you feel about that? ever texted something you wish would go away right now? there is of course the privacy issue as well. well, here comes the judge. he will be new at 10 on this one. got it. shares of darden restaurants, they're down today and they're the comp
stuart: the republicans submit their fiscal cliff solution. now, that plan put out by speaker boehner, includes 800 billion dollars in extra tax revenues and that would come from limiting deductions and not from higher tax rates. and there would also be 1.2 trillion dollars worth of spending cuts and the white house immediately dismissed that plan, saying, the lower tax rates for the rich and quote, fix the middle class with a bill. again, we come back to this. the main sticking point is the...
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Oct 24, 2012
10/12
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do you think they have a sense of howconomy could fall apart once we hit this huge fiscal cliff? >> no, and no, i don't think that anyone thinks their taxes are going up that much, and they are not aware of the fiscal cliff, because they are living their lives it has not been discussed that much in the debates, maybe people hope as i do, that it will be you know, that there will be some way they can figure out how to work together, and maybe hope against hope we keep having that some day, dc will be functional. >> a pipe dream. >> i have a dream. yeah. >> let me say somhing about this. i did look through it, the problem for president obama, there is a lot of -- not a lot of specifics but the problem is president obama has had 4 years to 28 jobs it has not gotten done, looking through that report, there wasot a l new. it does kind of confirm what mitt romney is saying, the next 4 years will be veryuch like the first 4 years. i don't know kristin if you saw anything new but i didn't. >> i don't think they are coming up with new things, i think this is jt a tactic to say you know tr
do you think they have a sense of howconomy could fall apart once we hit this huge fiscal cliff? >> no, and no, i don't think that anyone thinks their taxes are going up that much, and they are not aware of the fiscal cliff, because they are living their lives it has not been discussed that much in the debates, maybe people hope as i do, that it will be you know, that there will be some way they can figure out how to work together, and maybe hope against hope we keep having that some day,...
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Oct 24, 2012
10/12
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the big event is the fiscal cliff. if you list all the different pieces of legislation that would roll off, that accounts for $720 billion of spending. nobody believes that is what is going to happen. there'll be some negotiated settlements whether it is republicans, democrats, we've done the analysis, our estimates and they're basically consensus. looking at $250 billion of fiscal tightening. which is about 1.5% of gdp. which is given the context of where we are, where the economy is growing at at one half, 2%, we're back wit back to somethint feels like recessionary conditions. my tray policy alone is necessary but it is not sufficient. that is why we're in the third round of quantitative easing. we are in for a slow period of balance rehabilitation. and this will take years. there is no simple way out. we need a couple of things, we need a policy that reigns in some of the spending and the deficit that delivers consistent revenues and promotes growth. and we are suffering on all three right now. cheryl: he also says
the big event is the fiscal cliff. if you list all the different pieces of legislation that would roll off, that accounts for $720 billion of spending. nobody believes that is what is going to happen. there'll be some negotiated settlements whether it is republicans, democrats, we've done the analysis, our estimates and they're basically consensus. looking at $250 billion of fiscal tightening. which is about 1.5% of gdp. which is given the context of where we are, where the economy is growing...
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Oct 24, 2012
10/12
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cliff. it is right here underneath our feet, vast oil reserves, vast gas reserves and we need to put it to the work for the economy. melissa: i want to put it in perspective to viewers. i've been to saudi arabia. the oil there is basically sitting in the sand. oil here is harder and more expensive to get to. great that we have technology but it is more expensive, right? >> it is more expensive and get a lot more out of it because it is the most advanced technology. no surprise where a lot of it is happening north dakota, north dakota has the lowest unemployment rate in the whole united states. that is because they're able to put their economy to work based on oil. so, yes, it is a little bit more expensive. because of technology, you get a lot more molecules out for the money you put in. melissa: if it is more expensive, saudi arabia can flood the oil market with cheaper oil and take away that business. >> it is not rig or apples it apples. while the technology might be more expensive we're
cliff. it is right here underneath our feet, vast oil reserves, vast gas reserves and we need to put it to the work for the economy. melissa: i want to put it in perspective to viewers. i've been to saudi arabia. the oil there is basically sitting in the sand. oil here is harder and more expensive to get to. great that we have technology but it is more expensive, right? >> it is more expensive and get a lot more out of it because it is the most advanced technology. no surprise where a lot...
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Oct 25, 2012
10/12
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cliff, and quite frankly, create the jobs that we need. that is the type of economic growth we really need to be focusing on. we'll hugely impact the price gasoline at pu just by producing oil here at home but we will be able to weather those inevitable volatility that we see if iran closes the strghts of hormuz it will be much better for america producing more oil at home. melissa: what do you do to em the environmental backlash against this type of drilling? >> i think the truth matters here. according to our own environmental protection agency, the head of it eila jackson said, you know what? never has there ever been a case groundwater contamination because of this. i take the government at its word. we've been regulating at state level and it worked pret well. at being said industry does need to be held to very high standards. that will happen and that should happen. technogy will continue to improve. our ability to use this resource but let's not be led undo the path of hollywood mythology and movies tryin to sell us not the truth. m
cliff, and quite frankly, create the jobs that we need. that is the type of economic growth we really need to be focusing on. we'll hugely impact the price gasoline at pu just by producing oil here at home but we will be able to weather those inevitable volatility that we see if iran closes the strghts of hormuz it will be much better for america producing more oil at home. melissa: what do you do to em the environmental backlash against this type of drilling? >> i think the truth matters...
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Oct 22, 2012
10/12
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certainly dividend stocks will get crushed as the fiscal cliff occurs. you have to watch out for that. stuart: obama wins, housing does what? >> housing i still believe would improve. people are fearful of obamacare and taxes. i would be weary of the fact that the stock market goes up so much. stuart: gold, obama wins a second term? >> own it. >> bullish. stuart: fascinating. all right, everybody. the highlight reel is next. follow the wings. you see us, at the start of the day. on the company phone list that's a few names longer. you see us bank on busier highways. on once empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. stuart: here it is. the highlight reel. >> dead heat. >> you do not think this will be a dolt and boring debate. stuart: if romney keeps the momentum, he is the next president. >> two minute responses from each candi
certainly dividend stocks will get crushed as the fiscal cliff occurs. you have to watch out for that. stuart: obama wins, housing does what? >> housing i still believe would improve. people are fearful of obamacare and taxes. i would be weary of the fact that the stock market goes up so much. stuart: gold, obama wins a second term? >> own it. >> bullish. stuart: fascinating. all right, everybody. the highlight reel is next. follow the wings. you see us, at the start of the...
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Sep 12, 2012
09/12
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>> the credit downgrade, the fiscal cliff issues, europe is not growing, but traders are listening and hearing from the printing press. right now what we will see tomorrow. $300 billion of assets purchase. nothing but smoke and mirror. david: a lot of people saying it clears the way. not the german people, getting since the german people are getting fed up with filling out the greece. any optimism about what the german court did? >> the german people never, ever wanted the euro dollar to begin with. they're sick and tired of all of this. considering the fact they absorbed eastern germany not too long ago implement a lot of austerity to get them to where they are today. problems in spain, italy and now france, who can blame them as the court saying they are liable. don't make any mistake about that right now. david: we want to bring it back home, chris, let's get right to it, last time you were here you recommended avis. i understand you're still going with avis, and what other stocks do you recommend right now? >> we think avis is still undervalued. the stock has got about $3.20 of fre
>> the credit downgrade, the fiscal cliff issues, europe is not growing, but traders are listening and hearing from the printing press. right now what we will see tomorrow. $300 billion of assets purchase. nothing but smoke and mirror. david: a lot of people saying it clears the way. not the german people, getting since the german people are getting fed up with filling out the greece. any optimism about what the german court did? >> the german people never, ever wanted the euro...
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i think the real challenge ahead is do we go over the fiscal cliff january 1st? if we do, then for sure we're going to be in a recession. that will take 3 1/2% out of the gdp. that is a stroke of midnight. that is a big hit. we don't grow at 3 1/2%. so that clearly would put us in. lauren: the chief economist of the imf said today it will take 10 years to get out of this funk. that was just amazing. but you've been very clear about this, wilbur. saying that mitt romney is the guy to help the markets. why are you so bullish on mitt romney? >> well, for several reasons. one, we won't have a lot of the horrible things that the regulatory agencies are doing, the overregulation. that's a huge problem for business and for business confidence. lauren: right. >> second, there will be better supervision of things that need it. for example, a quarter of the people who exit unemployment do so to get disability benefits saying that they have mental disability. lauren: wow. >> mental disability. and they don't really investigate it. well, maybe they really are all mentally di
i think the real challenge ahead is do we go over the fiscal cliff january 1st? if we do, then for sure we're going to be in a recession. that will take 3 1/2% out of the gdp. that is a stroke of midnight. that is a big hit. we don't grow at 3 1/2%. so that clearly would put us in. lauren: the chief economist of the imf said today it will take 10 years to get out of this funk. that was just amazing. but you've been very clear about this, wilbur. saying that mitt romney is the guy to help the...
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Sep 14, 2012
09/12
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this is part of the fiscal cliff and negotiations begin after the elections. back to you. liz: again, rich said foxbusiness.com. there are 1200 points here. anybody who does business with the u.s. government, they should jump on there and take a look. you know, i know we have given you a lot at the top of the show to think about, a lot maybe to worry about, i will tell you something, in silicon valley, all they are thinking about is coming up with ideas. we are here in the headquarters of a company called flipboard. we first showed you one year ago when they weren't that big, they had a couple of employees. they now have 61 employees. this is their headquarters. that's actually a garage door. this is the garage start-up. they are the first social media magazine app. and at first they had about 2 million people looking at their stuff. now flipboard has 20 million people who have flipboard on their ipad, kindle fire, all of these things, now sort of been amassed under the flipboard name. it's a real feel when you talk about start-ups. you have people working on computers, et
this is part of the fiscal cliff and negotiations begin after the elections. back to you. liz: again, rich said foxbusiness.com. there are 1200 points here. anybody who does business with the u.s. government, they should jump on there and take a look. you know, i know we have given you a lot at the top of the show to think about, a lot maybe to worry about, i will tell you something, in silicon valley, all they are thinking about is coming up with ideas. we are here in the headquarters of a...
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Dec 12, 2012
12/12
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by the way, california fell off the fiscal cliff. i don't know what shall is talking about. 14.3% if you make the millionaires new price range of $250,000, so, people are leaving. talk to a surgeon the other day, closed up shop, sold his house and is leasing a home in las vegas. he says he couldn't take it anymore. stuart: but this is a historic reversal. look i've been in america 40 years and started out in san francisco 40 years ago and back in those days, there was always a net migration into california, significant numbers. california gained tens of millions of people over my time in america, but that just recently has been completely reversed. now there's a net leaving of people. and that's historic in america, that's historic. >> it is historic. it is historic because you come here, as i said for the weather, but that's it anymore and there's no promise of a future. don't promise that you're going to be able to put down your stake and really do something with it. look at the head of facebook, one of the partners left not only t
by the way, california fell off the fiscal cliff. i don't know what shall is talking about. 14.3% if you make the millionaires new price range of $250,000, so, people are leaving. talk to a surgeon the other day, closed up shop, sold his house and is leasing a home in las vegas. he says he couldn't take it anymore. stuart: but this is a historic reversal. look i've been in america 40 years and started out in san francisco 40 years ago and back in those days, there was always a net migration...
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we'll see what happens with the fiscal cliff. >> what did you do with ashley? tracy: he is home with his mama. i'm tracy byrnes, ashley will be back on wednesday. american companies beware. the house intelligence committee says doing business with two chinese telecom firms actually threatens our national security. >>> gas prices soaring once again in california. the state points the finger at refinery supply problems but we'll tell you why california's own regulations are really to blame. >>> just 29 days to go before the presidential election. we'll look at what the vote could mean for the future of wall street. hmmm. as the ladies mentioned dow is down 29 points. time for stocks as we do every 15 minutes. we head down to nicole petallides down on the floor of the exchange. we're starting this week off a little lower, aren't we. >> tracy, we've been down all day today. not a day where we've taken off one way or the other. on the contrary, we saw pressure n the market. last week we gained after two weeks of selling. last week we had an up arrow of over 1%. 1.25
we'll see what happens with the fiscal cliff. >> what did you do with ashley? tracy: he is home with his mama. i'm tracy byrnes, ashley will be back on wednesday. american companies beware. the house intelligence committee says doing business with two chinese telecom firms actually threatens our national security. >>> gas prices soaring once again in california. the state points the finger at refinery supply problems but we'll tell you why california's own regulations are really...
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Oct 12, 2012
10/12
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you have the fiscal cliff. there's a good chance congress will do nothing before the end of the year than the european central bank supposedly put a new program in place to help out troubled countries with their debt by buying it in the secondary markets. when you look behind their announcement a lot of the details are missing and finally from my perspective greece is starting to rear its ugly head again. let's say what happens if greece drops out of the euro? my concern is not about greece but what do spanish depositors thing? are we next? is the government going to turn around and give me the old style -- and i will take 60% hit in my savings? does that started deposit run on spanish banks? dagen: you just scared me quite frankly. what is safe? >> what is safe right now? treasuries are fair value at that stock. it sounds boring to say it but i would say really diversify right now. i wouldn't be loading up on high yields or other credit classes that run their course. is not a real sexy message to send the unfo
you have the fiscal cliff. there's a good chance congress will do nothing before the end of the year than the european central bank supposedly put a new program in place to help out troubled countries with their debt by buying it in the secondary markets. when you look behind their announcement a lot of the details are missing and finally from my perspective greece is starting to rear its ugly head again. let's say what happens if greece drops out of the euro? my concern is not about greece but...
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Sep 12, 2012
09/12
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we're loom we have fiscal cliff looming. we're getting ahead of ourselves. be careful. take risk off the table. option prices in terms of hedging your portfolio are relatively cheap because the vix is so low. so it is an opportunity to investors to avoid the mistakes of the past. ashley: would you agree based on that the market is in dire need after correction? >> i don't loo to use the word dire that is too gloom and doom for me but i do expect a correction to come. i think we hit the highs of the year or certainly very near them. ashley: yeah. >> for the rest of the calendar year more likely to see more market volatility and potential downside risk than upside risk especially for equities. ashley: what about the qe. hits dollar. >> positive for commodities. grain reports today, not as bad as some expected but still something very positive. gold, silver are rallying. so technicals are improving there. you're still seeing heavy central bank buying especially in asia on the precious metals. we think commodities are well-poised. from an insulation perspective you by the m
we're loom we have fiscal cliff looming. we're getting ahead of ourselves. be careful. take risk off the table. option prices in terms of hedging your portfolio are relatively cheap because the vix is so low. so it is an opportunity to investors to avoid the mistakes of the past. ashley: would you agree based on that the market is in dire need after correction? >> i don't loo to use the word dire that is too gloom and doom for me but i do expect a correction to come. i think we hit the...
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cliff facing us on january 1st by a totally irresponsible congress that threatens two million more jobs in the defense industry alone. tracy: we are hearing about lack of confidence for a while and no one has done anything about it and we are coming down to deadlines. the server 30 first is the big one for us and nothing has been done. wrapping these elections right now but do you think the election will make a difference? >> i don't know. there is such uncertainty to control? if ronny wins then i think there's more likelihood that something constructive will be done. at the moment we have an anti business government and small businesses are key to job creation. a government which will not control its spending doesn't even have a budget for the last four years. talk about uncertainty. not even the government knows what it is doing. it spews out tons of cash but all that cash instead of going into jobs is going into bank accounts of individuals and corporations and banks. there's plenty of cash. what is required is certainty and that certainty comes from clear and firm leadership and gre
cliff facing us on january 1st by a totally irresponsible congress that threatens two million more jobs in the defense industry alone. tracy: we are hearing about lack of confidence for a while and no one has done anything about it and we are coming down to deadlines. the server 30 first is the big one for us and nothing has been done. wrapping these elections right now but do you think the election will make a difference? >> i don't know. there is such uncertainty to control? if ronny...
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fell in rankings primarily due to concerns about debt, the fiscal cliff that is coming up, and concerns with u.s. politicians can get over the current dysfunction and start addressing some of these core issues in order to enable long-term prosperity. lori: germany moved ahead of us, which i was kind of surprised about because, of course, they're dealing with the struggles in the eu themselves. >> well, germany scored well overall in the index. germany does very well relative to other european countries that suffered from similar items. when you look at germany, structurally very least -- very sound compared to places like greece which was 96 or spain, italy, portugal, and such. on a relative basis they're leveraging strengths and that strength in terms of the infrastructure or a large market and other items. >> and the point earlier, pretty funny, the top of the list. of course, the study originated in switzerland. any bias? >> we are very confident that we are not bias. we are based in switzerland, but they show incredible strength across many aspects of the index, innovation, has leve
fell in rankings primarily due to concerns about debt, the fiscal cliff that is coming up, and concerns with u.s. politicians can get over the current dysfunction and start addressing some of these core issues in order to enable long-term prosperity. lori: germany moved ahead of us, which i was kind of surprised about because, of course, they're dealing with the struggles in the eu themselves. >> well, germany scored well overall in the index. germany does very well relative to other...